South State Co. (NASDAQ: SSB) to Post Q3 2021 Earnings of $ 1.81 Per Share, Piper Sandler Forecasts
South State Co. (NASDAQ: SSB) – Piper Sandler stock researchers raised their 2021 third quarter earnings per share (EPS) estimates for South State stocks in a research report released to clients and investors on Thursday April 29. Piper Sandler analyst S. Scouten now predicts the bank will post earnings per share of $ 1.81 for the quarter, up from its previous forecast of $ 1.62. Piper Sandler also released estimates for South State’s Q4 2021 profit at $ 1.69, Q1 2022 profit at $ 1.41 EPS, Q2 2022 profit at $ 1.54 EPS, Q3 2022 profit at 1, 49 USD BPA and FY2022 profit at 5.90 USD BPA.
A number of other research firms have also weighed heavily on SSB recently. Raymond James downgraded South State shares from an “outperformance” rating to a “market performance” rating in a Friday, January 29 report. Truist raised its price target on South State shares from $ 85.00 to $ 97.00 in a report on Monday, March 8. To finish, Zacks investment research reducing Southern state stocks from a “buy” note to a “maintain” note in a Tuesday January 5 report. Four equity research analysts rated the stock with a sustaining rating and two gave the stock a buy rating. South State currently has a consensus rating of “Hold” and an average price target of $ 75.75.
South State shares opened at $ 84.32 on Monday. The company has a debt ratio of 0.23, a current ratio of 0.99, and a quick ratio of 0.97. The company has a fifty-day moving average price of $ 82.47 and a 200-day moving average price of $ 75.25. South State has a one-year low of $ 40.42 and a one-year high of $ 93.26. The stock has a market cap of $ 5.99 billion, a PE ratio of 54.75 and a beta of 1.08. South State (NASDAQ: SSB) last released its results on Wednesday, April 28. The bank reported earnings per share (EPS) of $ 2.17 for the quarter, beating the Thomson Reuters consensus estimate of $ 1.42 per $ 0.75. South State had a net margin of 8.18% and a return on equity of 6.67%. The company posted revenue of $ 358.28 million in the quarter, compared to analysts’ expectations of $ 360.90 million. In the same quarter of last year, the company posted earnings per share of $ 0.82. The company’s revenue increased 108.1% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Greenleaf Trust acquired a new position in South State during the first quarter valued at approximately $ 1,171,000. Emerald Mutual Fund Advisers Trust increased its holdings in South State by 1.2% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 254,778 shares of the bank valued at $ 20,003,000 after purchasing an additional 3,034 shares in the last quarter. Emerald Advisers LLC increased its holdings in South State by 1.3% in the 1st quarter. Emerald Advisers LLC now owns 245,550 shares of the bank valued at $ 19,278,000 after purchasing an additional 3,160 shares in the last quarter. Aviance Capital Partners LLC increased its holdings in South State by 100.8% in the 1st quarter. Aviance Capital Partners LLC now owns 10,408 shares of the bank valued at $ 817,000 after purchasing an additional 5,224 shares in the last quarter. Finally, Chatham Capital Group Inc. acquired a new position in South State in the 1st quarter valued at approximately $ 200,000. Hedge funds and other institutional investors hold 76.01% of the company’s shares.
Similarly, director Ernest S. Pinner sold 5,000 shares of the company’s stock in a transaction dated Monday, March 8. The shares were sold for an average price of $ 87.61, for a total trade of $ 438,050.00. In addition, Executive Vice President John C. Pollok sold 5,120 shares of the company’s stock in a transaction dated Friday, February 19. The stock was sold for an average price of $ 80.30, for a total trade of $ 411,136.00. Following the transaction, the Executive Vice President now owns 72,218 shares of the company, valued at $ 5,799,105.40. Disclosure of this sale can be found here. During the last quarter, insiders sold 52,102 shares of the company valued at $ 4,531,377. Company insiders own 1.43% of the company’s shares.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 21. Shareholders of record on Friday, May 14 will receive a dividend of $ 0.47. The ex-dividend date is Thursday May 13. This represents an annualized dividend of $ 1.88 and a dividend yield of 2.23%. South State’s dividend payout ratio (DPR) is 33.39%.
About South State
South State Corporation operates as a bank holding company for the South State Bank which provides a range of banking services and products. The company accepts checking accounts, savings deposits, interest-bearing transaction accounts, certificates of deposit and other term deposits. It also offers commercial real estate loans, residential real estate loans, commercial and industrial loans, as well as consumer loans, including auto, nautical and personal installment loans.
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